Cashing Out: The Untold Story of Truth Social's Founding Feud

The departure of two key co-founders from Donald Trump's Truth Social platform has shed light on the behind-the-scenes drama that has plagued the social media venture. As the former president faces mounting legal challenges, the future of his digital empire remains uncertain.

Uncovering the Truth Behind Truth Social's Tumultuous Beginnings

The Apprentice Alums Who Birthed Truth Social

Andrew Litinsky and Wesley Moss, two former contestants on Donald Trump's reality TV show "The Apprentice," played a pivotal role in the creation of Truth Social. After Trump was banned from Twitter following the January 6th Capitol riots, the duo convinced the former president to launch his own social media platform. They agreed to give Trump a majority stake in the venture, which would later become known as Trump Media and Technology Group (TMTG).

Litinsky and Moss's involvement in the project was not just a matter of chance. Their shared history with Trump, dating back to their time on "The Apprentice" two decades ago, had forged a connection that would ultimately shape the trajectory of Truth Social. However, as the platform began to take shape, the relationship between the co-founders and the former president would soon sour, leading to a bitter feud that would play out in the public eye.

The Fallout: Lawsuits and Dilution of Shares

According to a regulatory disclosure, Litinsky and Moss's investment vehicle, United Atlantic Ventures LLC (UAV), has now liquidated the bulk of its nearly 7.53 million shares in TMTG. This move comes amid an ongoing legal battle between the co-founders and the company, with both parties suing each other over various issues related to the rollout and management of Truth Social.

The filing reveals that UAV's stake in TMTG has dwindled to less than 3.8% of the outstanding stock, a significant reduction from the 5.5% it owned when the company went public in late March. This dilution of their holdings is likely a result of further share issues by TMTG, which have eroded the co-founders' ownership position.

Uncertainty Looms Over Truth Social's Future

The departure of Litinsky and Moss from the TMTG shareholder roster has raised concerns about the stability and direction of the company. While their selling of shares may not necessarily be a harbinger of deeper problems, it has added to the ongoing uncertainty surrounding Truth Social's future.

Investors have also been closely watching the potential sale of stock by Donald Trump himself, who owns nearly 115 million shares, representing a 57% stake in the company. Despite the former president's assurances that he has no intention of selling, the market has remained skeptical, with TMTG's stock price plummeting to an all-time low earlier this month.

The legal battles and dilution of shares have only compounded the challenges facing Truth Social. As the platform struggles to gain traction and establish itself as a viable alternative to mainstream social media, the departure of its co-founders has further muddied the waters, leaving the company's long-term prospects in limbo.

Diversifying the Trump Brand: From Sneakers to Luxury Watches

In the face of these uncertainties, Donald Trump has turned his attention to other revenue streams, leveraging his personal brand to launch a wide range of merchandise, from sneakers to bibles and silver coins. The latest addition to this growing portfolio is a line of diamond-encrusted wrist watches, retailing for as much as $100,000 each.

This diversification of the Trump brand suggests a shift in strategy, as the former president seeks to generate cash flow from sources outside of his struggling social media venture. However, the success of these branded products remains to be seen, and it remains unclear whether they can provide a sustainable solution to the financial challenges facing TMTG.

As the drama surrounding Truth Social continues to unfold, the future of Donald Trump's digital empire remains shrouded in uncertainty. The departure of its co-founders, the ongoing legal battles, and the former president's need to explore alternative revenue streams all point to a complex and uncertain path ahead for the platform and its beleaguered founder.